Choppy Session with Highs, Tumbles and Boredom
Originally published: 08.17.17 by Margot Crabtree
Our month had something for everyone, with record highs mixed in with dizzying drops and sideways spins. As our trading session ended August 15, 2017, tensions over North Korea’s saber rattling spooked markets.
The Commerce Department said that housing starts increased by 8.3 percent in June, after three consecutive monthly declines. However, the July National Association of Home Builders/Wells Fargo builder sentiment index fell to 64, from 66 in June, compared to the 67 from analysts polled by FactSet, the lowest reading since November.
The Commerce Department said that the gross domestic product increased at a 2.6 percent rate in the second quarter, more than double the revised 1.2 percent growth in the first quarter. Durable goods were up 6.5 percent in June, from two consecutive monthly declines.
The Commerce Department said it was the largest increase in almost three years. In a separate report, the Commerce Department reported that factory orders increased 3 percent in June after declines in April and May, pushed by a 131 percent increase in commercial aircraft.
The Conference Board reported that its July consumer confidence index jumped to 121.1, following a June reading of 117.3. The robust job market is credited with the strong numbers. The Dow reached 22,000 with little fanfare, and as we moved into August, marked its eighth consecutive record close. Jumpy trading increased as the Korean situation heated up.
“The selling never did cascade,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. “We had an adjustment and this week investors were able to sit back and say the Korean situation is something to watch, but it’s probably had its effect on the market already.”
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
| NASD | AAON | AAON, Inc. | 32.73 | 37.50 | -4.77 | -12.72% | 38.20 | 26.51 | 52600 | 1721598 |
| NYSE | ABB | ABB Ltd. | 22.85 | 25.16 | -2.31 | -9.18% | 25.83 | 20.26 | 2130000 | 48670500 |
| NYSE | AOS | AO Smith Corp. | 54.34 | 57.44 | -3.10 | -5.40% | 57.97 | 43.66 | 146890 | 7982002.6 |
| NYSE | FIX | Comfort Systems USA, Inc. | 32.60 | 36.70 | -4.10 | -11.17% | 39.67 | 26.05 | 37120 | 1210112 |
| NYSE | DOV | Dover Corp. | 85.13 | 84.32 | 0.81 | 0.96% | 87.63 | 65.50 | 155730 | 13257294.9 |
| NASD | ELON | Echelon Corp. | 4.88 | 5.00 | -0.12 | -2.40% | 7.20 | 4.17 | 4440 | 21667.2 |
| NYSE | DD | E. I. DuPont de Nemours & Co. | 81.58 | 84.75 | -3.17 | -3.74% | 86.36 | 66.02 | 867810 | 70795939.8 |
| NYSE | EME | EMCOR Group, Inc. | 65.37 | 65.03 | 0.34 | 0.52% | 73.44 | 54.89 | 59180 | 3868596.6 |
| NYSE | EMR | Emerson Electric Co. | 59.41 | 60.18 | -0.77 | -1.28% | 64.36 | 49.22 | 640020 | 38023588.2 |
| NYSE | FCAU | Fiat Chrysler | 12.67 | 11.99 | 0.68 | 5.67% | 12.91 | 6.05 | 1540000 | 19511800 |
| NYSE | F | Ford Motor Co. | 10.84 | 11.68 | -0.84 | -7.19% | 13.27 | 10.67 | 3900000 | 42276000 |
| NYSE | GM | General Motors Co. | 35.54 | 36.35 | -0.81 | -2.23% | 38.55 | 30.13 | 1470000 | 52243800 |
| NYSE | HON | Honeywell International, Inc. | 137.42 | 135.83 | 1.59 | 1.17% | 140.21 | 105.25 | 760570 | 104517529.4 |
| NASD | HDSN | Hudson Technologies, Inc. | 8.73 | 9.19 | -0.46 | -5.01% | 10.40 | 5.21 | 41540 | 362644.2 |
| NYSE | IR | Ingersoll-Rand Plc | 86.20 | 92.83 | -6.63 | -7.14% | 94.39 | 62.40 | 253670 | 21866354 |
| NYSE | JCI | Johnson Controls, Inc. | 37.83 | 43.87 | -6.04 | -13.77% | 49.83 | 37.75 | 932400 | 35272692 |
| NYSE | LII | Lennox International Inc. | 167.92 | 183.78 | -15.86 | -8.63% | 192.58 | 140.97 | 42180 | 7082865.6 |
| NYSE | LXU | LSB Industries, Inc. | 6.38 | 10.85 | -4.47 | -41.20% | 12.68 | 4.52 | 28410 | 181255.8 |
| NYSE | MTW | Manitowoc Co., Inc. | 7.96 | 4.05 | 3.91 | 96.54% | 8.40 | 3.65 | 140540 | 1118698.4 |
| NYSE | MLI | Mueller Industries, Inc. | 29.38 | 30.52 | -1.14 | -3.74% | 43.96 | 27.72 | 57630 | 1693169.4 |
| NYSE | NWL | Newell Rubbermaid, Inc. | 50.21 | 53.81 | -3.60 | -6.69% | 55.08 | 43.43 | 483100 | 24256451 |
| OTC | NSANY | Nissan Motor Co. Ltd. | 19.97 | 20.23 | -0.26 | -1.29% | 20.76 | 18.06 | 3910000 | 78082700 |
| NASD | OFLX | OmegaFlex, Inc. | 58.87 | 68.50 | -9.63 | -14.06% | 70.80 | 34.62 | 10090 | 593998.3 |
| NYSE | PH | Parker-Hannifin Corp. | 158.19 | 165.06 | -6.87 | -4.16% | 167.50 | 118.77 | 133180 | 21067744.2 |
| NYSE | RBC | Regal-Beloit Corp. | 78.55 | 84.15 | -5.60 | -6.65% | 87.50 | 56.45 | 44810 | 3519825.5 |
| NYSE | ROK | Rockwell Automation | 164.12 | 167.34 | -3.22 | -1.92% | 167.97 | 111.52 | 128360 | 21066443.2 |
| OTC | SIEGY | Siemens Aktiengesellschaft | 64.66 | 69.17 | -4.51 | -6.52% | 73.42 | 55.73 | 1620000 | 104749200 |
| NYSE | SPXC | SPX Corp. | 25.30 | 27.57 | -2.27 | -8.23% | 29.25 | 15.49 | 42520 | 1075756 |
| NYSE | TXN | Texas Instruments | 81.96 | 82.00 | -0.04 | -0.05% | 84.65 | 66.30 | 990040 | 81143678.4 |
| NYSE | UTX | United Technologies Corp. | 115.96 | 123.41 | -7.45 | -6.04% | 124.79 | 97.62 | 798770 | 92625369.2 |
| NYSE | WSO | Watsco, Inc. | 147.85 | 150.83 | -2.98 | -1.98% | 159.55 | 128.60 | 27480 | 4062918 |
|
|
Price 8/15/17 |
Price 7/14/17 |
Net Change |
Percent Change |
| HVACR Business Stock Index | 1,460.45 | 1,525.06 | -64.62 | -4.24% |
| Dow Jones Industrial Average | 21,998.99 | 21,637.74 | 361.25 | 1.67% |
| S&P 500 Index | 2,464.61 | 2,459.27 | 5.34 | 0.22% |
| NASDAQ Composite | 6,333.01 | 6,312.47 | 20.54 | 0.33% |
Gainers/Losers |
||||
| $ Gainer | Manitowoc Co., Inc. | 3.91 | ||
| $ Loser | Lennox International Inc. | -15.86 | ||
| % Gainer | Manitowoc Co., Inc. | 96.54% | ||
| % Loser | LSB Industries, Inc. | -41.20% | ||
| Advancers | 5 | |||
| Decliners | 26 | |||
The HVACR Business Stock Index fell 64.62 points, or 4.24 percent, and closed at 1460.45. Declining issues overpowered advancing issues at a 26-to-5 count.
Despite besting analysts’ expectations for second quarter results, Lennox tumbled 15.86 points, or 8.63 percent. LII said it earned $115.5 million, or $2.69 per share. Adjusted for one-time items, Lennox earned $2.83 per share. Revenue was $1.1 billion. Analysts polled by Zacks expected earnings of $2.76 per share and revenue of $1.09 billion. Lennox closed at 167.92, and was the top dollar loser.
Manitowoc jumped 3.91 points, or 96.54 percent after swinging from a loss. MTW beat forecasts on earnings, but fell short on revenue. For its second quarter, Manitowoc reported net income of $500,000, or less than $0.01 per share. Adjusted for one-time items, MTW earned $0.05 per share. Revenue was $394.6 million.
Analysts polled by Zacks expected a loss of $0.03 per share and revenue of $401.5 million. Manitowoc closed at 7.96, and was our top dollar and percentage gainer.
LSB Industries swung to a loss for its second quarter, reporting a loss of $7 million, or $0.53 per share. Revenue was $122.9 million. LXU’s board of directors reported that it’s decided to terminate the sale portion of its strategic review, saying that it has not been provided with options that are in the best interests of its shareholders. LXU shed 4.47 points, or 41.20 percent, and closed at 6.38. It was the top percentage loser.